Trump's Media Company Says Raised $1Bln From Investors

© AP Photo / Manuel Balce Ceneta In this May 5, 2018 file photo, President Donald Trump speaks during a roundtable discussion on tax reform at Cleveland Public Auditorium and Conference Center in Cleveland, Ohio.
 In this May 5, 2018 file photo, President Donald Trump speaks during a roundtable discussion on tax reform at Cleveland Public Auditorium and Conference Center in Cleveland, Ohio. - Sputnik International, 1920, 05.12.2021
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MOSCOW (Sputnik) - The Trump Media & Technology Group (TMTG), founded by former US President Donald Trump, has announced raising $1 billion from institutional investors.
The former president's media company was reported in October to be going public and planning to launch a social network named TRUTH Social.
"Trump Media & Technology Group Corp. and Digital World Acquisition Corp., today announced that Digital World Acquisition Corp. has entered into subscription agreements for $1 billion in committed capital to be received upon consummation of their business combination (the 'PIPE') from a diverse group of institutional investors," the TMTG said in a statement, issued on Saturday.
The former president, who is still banned from most social media platforms, crowed about this development saying it "sends an important message to Big Tech that censorship and political discrimination must end."
Former U.S. President Donald Trump reacts after his speech during a rally at the Iowa States Fairgrounds in Des Moines, Iowa, U.S., October 9, 2021. - Sputnik International, 1920, 22.10.2021
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Major social media like Facebook, Twitter and Instagram banned Trump following the January 6 unrest at the US Capitol, which some praise as a reasonable response to alleged incitement of riots, while others voice concerns about freedom of speech and expression in the United States.
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